KELSEY RESEARCH FOUNDATION (EIN 760637670) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1956

Legal Domicile

Principal Officer

ASHLEY ALEXANDER MHSA

Phone

7134421214

Tax Period

2023-01-01 to 2023-12-31

KELSEY RESEARCH FOUNDATION, founded in 1956, is a community nonprofit in the Diseases & Disorders sector that reported $3.6M in total revenue in fiscal year 2023. Revenue surged 30% from the prior year, signaling strong growth momentum. The organization ran a surplus of $856K, a strong 23% operating margin.

Mission

KELSEY RESEARCH FOUNDATION WAS FOUNDED IN 1956 FOR THE PURPOSE OF (CONTINUED ON SCHEDULE O) ENCOURAGING AND ASSISTING RESEARCH AND EDUCATION PROGRAMS IN THE FIELD OF MEDICINE.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,051,187

Program Service Revenue $1,753,953

Investment Income $777,998

Other Revenue $64,017

TOTAL REVENUE $3,647,155

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,974,301

Fundraising Expenses $149,297

Program Expenses $2,109,902

Other Expenses $817,189

TOTAL EXPENSES $2,791,490

Year-over-Year Comparison

	2023	2022	Change
Revenue	$3,647,155	$2,811,248	+0.3%
Expenses	$2,791,490	$2,419,840	+0.2%
Net Income	$855,665	$391,408	+1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$385,646

Total Directors

$385,646

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASHLEY ALEXANDER MHSA	PRESIDENT AND CEO	50.00	Officer Director	$209,409	$25,715	$235,124
HERBERT L DUPONT MD	CHIEF SCIENTIFIC OFF	20.00	Officer Director	$128,038	$3,551	$131,589
MICHAEL E NEWMARK MD	MEDICAL DIRECTOR	4.00	Officer Director	$17,908	$1,025	$18,933
SPENCER BERTHELSEN MD	MEMBER	0.25	Director	$0	$0	$0
JOHN WILSON KELSEY	CHAIR,EMERITUS	0.25	Director	$0	$0	$0
ROBERT WIER KELSEY	VICE CHAIRMAN	0.25	Officer Director	$0	$0	$0
TONY LIN MD	MEMBER	0.25	Director	$0	$0	$0
JOHN N LYLE	MEMBER	0.50	Director	$0	$0	$0
RON MILLARD	MEMBER	0.25	Director	$0	$0	$0
AMANDA J MOUNT	MEMBER	0.50	Director	$0	$0	$0
SHELLY MULANAX	MEMBER	0.25	Director	$0	$0	$0
JONATHAN C NELSON MD	CHAIR	0.50	Officer Director	$0	$0	$0
VICTOR SIMMS MD	MEMBER	0.25	Director	$0	$0	$0
VICTORIA SMITH	CHAIR, FINANCE COMMITTEE	0.50	Director	$0	$0	$0
NED SNYDER MD	MEMBER	0.25	Director	$0	$0	$0
CHERISE CONLEY HARVEY MD	MEMBER	0.25	Director	$0	$0	$0
JEFFREY PARSONS	MEMBER	0.25	Director	$0	$0	$0
SUNIL PATEL MD	MEMBER	0.25	Director	$0	$0	$0
KEITH WILLIAMS	MEMBER	0.25	Director	$0	$0	$0
KATHERINE STACY	MEMBER	0.25	Director	$0	$0	$0
TARA MCNEILL	DIRECTOR OF DEVELOPM	40.00	Highest	$147,252	$11,922	$159,174
JOHN VALENTA	DIRECTOR OF RESEARCH	40.00	Highest	$133,614	$11,989	$145,603

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$3,647,155	$2,791,490	$10,456,386	$855,665
2022	$2,811,248	$2,419,840	$9,706,530	$391,408
2021	$2,621,345	$2,295,369	$10,072,702	$325,976
2020	$2,235,663	$2,724,233	$9,645,636	$-488,570
2019	$1,864,381	$1,936,193	$9,666,062	$-71,812
2018	$1,985,076	$1,833,724	$9,108,729	$151,352

KELSEY RESEARCH FOUNDATION